Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.049%

Price spread now: Hyperliquid against KuCoin+0.092%7-day average +0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$300.304% of the position

Long on KuCoin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.052%+$5 on $10k

Price spread, last 7 days−0.080%−$8 · spread now +0.092%, 7d avg +0.042%

Together, before fees−0.029%+ Points / potential airdropHyperliquid: Season 2 · farm board−$3 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.050% dearer against KuCoin than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin BNBUSDTM	784.23	0.0100	pay 0.0100% / 8h	2h 39m	$27.5M	$10.2M	75x
Short	Hyperliquid BNB	784.95	0.0100	get 0.0013% / 1h	39m 46s	$51.5M	$17.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee KuCoinbpFee HyperliquidbpOrdersPrice spread, now +0.092%Rate

Funding earned: $0
Price spread: +0.092% → +0.042%: $5.02
Slippage, 4 orders: −$9.44
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$25.42
Costs to cover: 0.304%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Hyperliquid: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy KuCoin live order book, 4 min ago	0.44 bp	10.4 bp −$10	20.6 bp −$206	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 4 min ago	0.06 bp	6.1 bp −$6	doesn't fit	doesn't fit	doesn't fit

BNB on 46 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX BNB/USD [WBTC.b-USDC]	L −0.0192% / S +0.0356%	1h	784.52	+0.037%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	784.89	+0.084%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	785.60	+0.175%	$847K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	784.67	+0.056%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0028%	8h	784.97	+0.094%	$6.1M	$19.0M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.660%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0041%	8h	784.46	+0.029%	—	$22.1M	—	as long as short
MEXC BNB_USDT	+0.0051%	8h	785.20	+0.124%	$79.6M	$11.8M	200x	as long as short
Phemex BNBUSDT	+0.0051%	8h	785.21	+0.125%	$68.7M	$50.6M	50x	as long as short
Binance BNBUSDT	+0.0051%	8h	784.75	+0.066%	$488.6M	$807.6M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BNBUSD	+0.0069%	1h	784.41	+0.023%	$2.5M	$1.2M	50x	as long as short
dYdX BNB-USD	+0.0072%	1h	784.38	+0.019%	$159K	$61K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	784.52	+0.037%	$576K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	784.60	+0.047%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	784.83	+0.077%	$264K	$490K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	784.45	+0.028%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNBshort	+0.0100%	1h	784.95	+0.092%	$51.5M	$17.5M	10x
Pacifica BNB	+0.0100%	1h	784.71	+0.061%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	784.20	−0.004%	$137.6M	$74.4M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	784.10	−0.017%	$53.2M	$111.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	784.50	+0.034%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	784.45	+0.028%	$36.1M	$58.2M	75x	as long as short
KuCoin BNBUSDTMlong	+0.0100%	8h	784.23	long leg	$27.5M	$10.2M	75x
Bitget BNBUSDT	+0.0100%	8h	783.98	−0.032%	$75.9M	$30.7M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	785.11	+0.112%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	784.43	+0.025%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.49	+0.288%	$4.1M	$74.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.30	+0.264%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	784.39	+0.020%	$131K	$952K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	784.97	+0.094%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	785.39	+0.148%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	784.90	+0.085%	$386K	$996K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	784.36	+0.016%	$8.0M	$9.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	784.65	+0.054%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	783.95	−0.036%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	784.87	+0.081%	$377K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	787.15	+0.372%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0134%	8h	785.10	+0.111%	$140K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0172%	8h	785.09	+0.110%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	785.18	+0.122%	$1.5M	$143K	25x	as long as short
GRVT BNB_USDT_Perp	+0.0202%	8h	787.62	+0.433%	$2.9M	$29.3M	10x	as long as short
Bulk BNB-USD	+0.0256%	1h	786.23	+0.255%	$637K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0296%	1h	785.08	+0.108%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	784.37	+0.018%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0432%	1h	784.26	+0.004%	$1.1M	$908K	20x	as long as short
Hibachi BNB/USDT-P	+0.0472%	1h	785.20	+0.124%	$67K	$39K	12x	as long as short